Meta explores $10bn computing lease deal with Anthropic

Meta Platforms is in early-stage discussions with Anthropic to lease computing capacity in an arrangement potentially valued at up to $10bn over a two-year period, according to Reuters reporting citing an undisclosed source. Anthropic initiated the proposal in June and has indicated that it would pay Meta in monthly instalments for access to the company's infrastructure. Both parties would be able to exit the agreement before the two-year period concludes.

The potential deal signals a strategic expansion for Meta, which has historically focused on advertising revenue and does not currently operate a business selling computing power. Meta CEO Mark Zuckerberg addressed the possibility in May, telling shareholders that moving into cloud computing was "definitely on the table" and noting that the company received requests "almost every week" for access to AI models or surplus computing power. The partnership would position Meta alongside infrastructure providers like CoreWeave and Nebius, which lease computing resources to companies developing advanced AI tools.

Negotiations have become complex due to Meta's lack of existing infrastructure-leasing operations, and Reuters reported that the talks remain at an early stage and may not result in a final agreement. Meta's stock fell more than 2% at close on Friday following reports of the discussions. Separately, Anthropic has pursued computing resources through other channels: in May, the company entered an agreement with SpaceX to use the Colossus 1 data centre in Memphis, Tennessee. Additionally, Anthropic faced a temporary setback when the US government suspended the company's access to its Fable 5 and Mythos 5 AI models for all foreign nationals under export control law last month, though by end of June the US government lifted those restrictions after Anthropic agreed to tighter safety standards and enhanced monitoring measures.

Meta's reported discussions with Anthropic represent a potential departure from its traditional advertising-focused business model. CEO Mark Zuckerberg signaled openness to cloud computing infrastructure in May, noting that the company received "almost every week" requests for access to AI models or surplus computing power. The talks align Meta with other firms such as CoreWeave and Nebius that have already built businesses around leasing computing resources to AI developers. However, Meta's lack of existing infrastructure-leasing operations has made negotiations complex, and Reuters reported the talks remain at an early stage with no guarantee of completion. The proposal also comes amid broader developments in Anthropic's operations: the company had previously secured a computing arrangement with SpaceX's Colossus 1 data centre in Memphis, Tennessee (in May), and faced a temporary suspension of access to its Fable 5 and Mythos 5 models under US export control restrictions before those restrictions were lifted by end of June.